‘Money deposited in bank does not make it legitimate’

‘Money deposited in bank does not make it legitimate’

NEW DELHI: Finance Minister Arun Jaitley on Thursday said the fallout of demonetisation was on predicted lines and the economy will benefit in medium and long term. A day after the Reserve Bank said that almost all of the demonetised currency came back into the system, Jaitley said the fact that money got deposited in […]

Jan Dhan deposits surge to Rs 64,564 crore

Jan Dhan deposits surge to Rs 64,564 crore

New Delhi: Deposits in Jan Dhan accounts have touched a new high of Rs 64,564 crore, of which over Rs 300 crore came in the first seven months of demonetisation, according to government data. The Pradhan Mantri Jan-Dhan Yojana (PMJDY), Prime Minister Narendra Modi’s pet scheme, aims at bringing hitherto unbanked areas and people under […]

Note ban has and may continue to result in a slowdown: SBI

Note ban has and may continue to result in a slowdown: SBI

New Delhi: Country’s largest lender State Bank of India (SBI) has expressed apprehensions that demonetisation may continue to result in slowing down of the economy, and adversely affect its business. The government had discontinued Rs500 and Rs1,000 banknotes from 9 November 2016 and issued new Rs500 and Rs2,000 currency notes in exchange for the discontinued […]

USD 770 billion black money entered India in 2005-2014: Report

USD 770 billion black money entered India in 2005-2014: Report

New Delhi: An estimated USD 770 billion in black money entered India during 2005-2014, US-based think tank Global Financial Integrity (GFI) has said in its latest report. Nearly USD 165 billion in illicit money exited the country during the same period, the global financial watchdog said. During 2014 alone, about USD 101 billion black money […]

JK bank to install ePoS machines in urban Fair Price Shops

JK bank to install ePoS machines in urban Fair Price Shops

JAMMU: Fair Price Shops (FPS) under the of Food, Civil Supplies and Consumer Affairs (FCS&CA) in the urban areas would be equipped with electronic Point of Sale (ePoS) machines Jammu and Kashmir Bank has assured Minister for (FCS&CA) Choudhary Zulfkar Ali . The assurance came through during the Minister’s meeting with the concerned officials from […]

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